JOHANNESBURG, (The Southern African Times) – South Africa’s Telkom TKGJ.J said on Monday it needed to pay 2.1 billion rand ($143.73 million) for bands of radio frequency spectrum acquired in a recent auction, with a 1.1 billion rand hit expected this financial year.
Telkom said its free cash flow had missed expectations to stand in negative territory, but it had enough balance sheet capacity to fund the purchase while ensuring sufficient headroom for loan covenants.
